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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
24-09-2020

EIA Sees Global Oil Market Balancing By End-2021
The OPEC+ production cuts and curtailments in the United States are set to help global inventories to continue drawing down for the rest of the year and most of next year.
Tanzania
24-09-2020

Tanzania’s Petroleum Products Market Sees Sizeable Annual Expansion
The liquefied petroleum gas market registered double-digit growth last year as companies and the sector's regulator foster public awareness campaigns on the benefits for using the environmentally friendly energy source.
Oil&Gas Drilling
24-09-2020

Neptune Makes First Step in Offshore Execution of North Sea project
According to information on Neptune’s website, first oil from the project is expected in 2022.
LNG
23-09-2020

Russia's Arctic LNG Project Receives US$9.5 Billion in Financing
International lending institutions have arranged approximately US$9.5 billion in financial support for Russia’s Arctic Liquefied Gas project.
Crude Oil
23-09-2020

Libya Eyes 260,000 b/d as Opec+ Keeps Watch: Update
Libya's state-owned NOC said it expects the country's oil production to reach 260,000 b/d next week as onshore fields that have been shut in for several months gradually resume operations.
Oil&Gas Drilling
23-09-2020

Stena Drilling Lands Drillship Deal with Repsol in Mexico
Offshore drilling contractor Stena Drilling has won a drilling contract with Spanish oil company Repsol for operations offshore Mexico.
Crude Oil
23-09-2020

China Amends Customs Supervision on Crude Oil Imports to Improve Efficiency
Chinese customs said on Tuesday it will amend the way it supervises crude oil imports as part of a broader effort to boost efficiency.
Oil & Gas Trade
23-09-2020

India's August Crude Imports Continue Slide as Economy Stalls
India's crude oil imports declined in August, albeit at a slower pace, as soaring coronavirus cases continued to hit mobility and slowed economic recovery.
Oil Price
22-09-2020

India Topped Its Strategic Petroleum Reserves With $19 A Barrel Oil
India used the ultra-low crude oil prices earlier this year to top its strategic petroleum reserves with oil at $19 a barrel.
Oil Field
22-09-2020

CNOOC Starts up Fifth Project off China in 2020
Chinese oil and gas company CNOOC has produced first oil from the Liuhua 16-2 and 20-1 joint development project in the South China Sea.
United Kingdom
21-09-2020

The Electrification Of UK Offshore Oil & Gas
The British government has set a goal to reach net zero emissions by 2050.
Oil&Gas Drilling
21-09-2020

U.S. Wants Bankrupt Offshore Drillers To Pick Up The Tab For Abandoned Wells
The U.S. Department of the Interior is proposing a regulation that will not allow oil producers to avoid picking up their offshore well decommissioning tab when they go bankrupt.
Oil & Gas Trade
21-09-2020

China’s Crude Oil Imports are Slowing Down
China’s imports of crude oil have been trending much lower in September than in the past four months, while the rest of Asia is also significantly slowing imports this month with demand still under pressure.
Oil Price
20-09-2020

Global Effort Begins Again to Stabilise Oil Prices, OPEC+ Meet May be Called in Oct
A bigger global effort to stabilise oil prices involving all major oil producers including Russia is again on the cards to see that the current crisis does not escalate further putting several oil producers closer to bankruptcies.
Oil Price
20-09-2020

Diesel Prices Fall Again on the Back of Easing Global Crude Oil Prices
Diesel prices continued to decline for the fourth consecutive day on Sunday on the back of falling global crude prices. In the national capital, diesel was priced at Rs 71.58 per litre, down from Rs 71.82 on Saturday.
Oil Price
18-09-2020

International Oil Prices Rose Significantly on the 17th
It closed at 43.3 US dollars per barrel, an increase of 2.56%.
Market Analysis
18-09-2020

Russian Energy Minister: Global Oil Demand is Expected to Fully Recover in the Second Quarter of 2021
Russian Energy Minister Alexander Novak participated in the OPEC+ JMMC online meeting and said that global oil demand is expected to fully recover by the second quarter of 2021.
Crude Oil
18-09-2020

U.S Keeps Top Crude Oil Producer Status
Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of crude oil in July.
Oil&Gas Drilling
18-09-2020

Equinor Picks up Drilling Permit for North Sea Wildcat
The Norwegian Petroleum Directorate has issued a drilling permit to Equinor for a wildcat well located in the North Sea offshore Norway.
Oil Price
18-09-2020

OPEC+ Panel to Meet Amid Oil Price Decline
OPEC and allies, led by Russia, are scheduled to hold an online meet on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook.
LNG
18-09-2020

China's Sinopec Buys About 10 LNG Cargoes for Winter Delivery
China's Sinopec has purchased about 10 liquefied natural gas cargoes for delivery between November and March next year.
Oil and Gas Equipment
17-09-2020

China's First Floating LNG Storage And Regasification Plant Project Completed
This is the first time for a Chinese shipbuilding company to enter the field of global high-difficulty large-scale LNG offshore equipment modification.
Crude Oil
17-09-2020

Venezuela Prepares To Boost Oil Production With Iranian Help
Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, citing unnamed sources and company documents.
Crude Oil
17-09-2020

World’s No.1 Oil Trader Sees Crude Inventories Shrinking This Year
Vitol Group, the world’s largest independent oil trader, expects global oil inventories to continue drawing down for the rest of the year, unlike its rivals and many analysts who see a growing glut on the market.
Oil&Gas Drilling
17-09-2020

Eni Hits New Gas Discovery Offshore Egypt
Eni has made a new gas discovery in the Great Nooros Area, located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta, offshore Egypt.

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